Canadian Regulator Seeks Feedback on Disclosure Rules for Bank Crypto Exposures
The country hopes to align local requirements with those proposed by international banking regulators. Original Source
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Disclosure
Canadian regulator seeks feedback on crypto asset exposure disclosure requirements
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar enquiry initiated by the Bank for International Settlements
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BlackRock fined $2.5M by SEC for incorrect investment disclosure
The United States Securities and Exchange Commission has fined investment adviser BlackRock Advisors $2.5 million, accusing it of failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it managed.According to the SEC’s filing, between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT)
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Basel Committee introduces draft guidelines on crypto asset disclosure
The Basel Committee on Banking Supervision has proposed standardized disclosure templates for major banking institutions regarding their crypto asset exposure, aiming for implementation by 2025. The Basel Committee on Banking Supervision (BCBS), an assembly of international banking regulators, unveiled draft guidelines on October 18 for the merge of traditional finance and
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It’s Time for a Purpose-Built Disclosure Framework for Crypto
The disclosure will have to include an explanation about the smart contract or rights conferred by the crypto token (e.g., voting, dividend, or other economic rights), information relating to the revenue generated by token and operational costs (gas fees, payments to miners, etc.), and other aspects of the underlying tokenomics
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Basel Committee to consider disclosure requirements for banks’ crypto assets
The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to
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Craig Wright’s Financial Disclosure Form in $143M Court Case Was Incomplete
"At oral argument, Dr. Wright’s counsel conceded that the March 30 version of the Form omitted required information,” the document reads. “That version of the Form did not include (among other things) his employer’s address, any information about his spouse, and information about whether he had bank accounts.” Source
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California commission outlines campaign disclosure requirements for crypto
The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contributions declarations.An agenda released for an upcoming commission meeting includes a discussion of updated campaign disclosure manuals, which have been reworked to reflect recent changes to legislation and commission regulations.The updates
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Bankrupt Crypto Lender BlockFi’s Disclosure Statement Gets Approval From Court
“BlockFi’s mission through this process has been to maximize recoveries for our creditors, and conditional approval of our Disclosure Statement moves us one step closer to accomplishing that goal,” said Mark Renzi of Berkeley Research Group, BlockFi’s Chief Restructuring Officer, in a statement. “We are confident that our Plan provides
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SEC adopts cyberattack disclosure rules, listed crypto firms included
Public companies in the United States, including listed crypto firms, will be required to disclose any major cybersecurity incidents within a four-day time limit, under new rules adopted by the United States securities regulator.The rules from the United States Securities and Exchange Commission require any public company to disclose a cyberattack within
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